Expect currency wars in 2016, DBS chief warns

2016 will be a year of "currency wars" and a yuan depreciation could lead to more corporate defaults by unhedged Chinese companies, DBS CEO Piyush Gupta warned on Wednesday, adding that he thinks the greenback could start to weaken as early as the second quarter.

PHOTO: BT

Singapore

2016 will be a year of "currency wars" and a yuan depreciation could lead to more corporate defaults by unhedged Chinese companies, DBS CEO Piyush Gupta warned on Wednesday, adding that he thinks the greenback could start to weaken as early as the second quarter.